BB&T Corp Has $40.98 Million Stake in Coca-Cola Company (The) (KO)

BB&T Corp raised its stake in Coca-Cola Company (The) (NYSE:KO) by 9.5% during the second quarter, Holdings Channel reports. The institutional investor owned 913,715 shares of the company’s stock after buying an additional 78,932 shares during the period. Coca-Cola Company (The) comprises about 0.8% of BB&T Corp’s investment portfolio, making the stock its 20th largest position. BB&T Corp’s holdings in Coca-Cola Company (The) were worth $40,980,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Coca-Cola Company (The) by 1.2% in the first quarter. State Street Corp now owns 173,789,519 shares of the company’s stock worth $7,375,663,000 after buying an additional 2,009,675 shares during the period. Norges Bank purchased a new stake in Coca-Cola Company (The) during the fourth quarter worth $1,486,731,000. Legal & General Group Plc increased its stake in Coca-Cola Company (The) by 4.0% in the first quarter. Legal & General Group Plc now owns 20,535,490 shares of the company’s stock worth $871,552,000 after buying an additional 789,178 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Coca-Cola Company (The) by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 17,738,092 shares of the company’s stock worth $752,805,000 after buying an additional 1,001,984 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Coca-Cola Company (The) by 8.1% in the first quarter. Clearbridge Investments LLC now owns 16,111,936 shares of the company’s stock worth $683,791,000 after buying an additional 1,208,498 shares during the period. Institutional investors and hedge funds own 63.80% of the company’s stock.

Shares of Coca-Cola Company (NYSE KO) traded down 0.41% during mid-day trading on Friday, reaching $45.67. 10,879,794 shares of the company’s stock traded hands. The firm has a market cap of $194.80 billion, a price-to-earnings ratio of 48.23 and a beta of 0.69. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.43. The company’s 50 day moving average is $45.25 and its 200-day moving average is $43.72.

Coca-Cola Company (The) (NYSE:KO) last posted its earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $9.62 billion. Coca-Cola Company (The) had a net margin of 10.68% and a return on equity of 34.53%. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. Equities analysts expect that Coca-Cola Company will post $1.90 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.37 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.48 annualized dividend and a yield of 3.24%. Coca-Cola Company (The)’s dividend payout ratio (DPR) is presently 154.17%.

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KO has been the subject of a number of research analyst reports. Barclays PLC set a $45.00 target price on Coca-Cola Company (The) and gave the stock a “neutral” rating in a research report on Wednesday, July 19th. UBS AG upped their target price on Coca-Cola Company (The) from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Citigroup Inc. set a $53.00 target price on Coca-Cola Company (The) and gave the stock a “buy” rating in a research report on Thursday, August 3rd. BMO Capital Markets restated a “buy” rating and issued a $46.00 target price on shares of Coca-Cola Company (The) in a research report on Wednesday, April 26th. Finally, BidaskClub downgraded Coca-Cola Company (The) from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. Coca-Cola Company (The) presently has a consensus rating of “Hold” and an average price target of $45.70.

In related news, insider Beatriz R. Perez sold 29,282 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $45.20, for a total transaction of $1,323,546.40. Following the sale, the insider now directly owns 118,000 shares in the company, valued at $5,333,600. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian John Smith sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $46.10, for a total transaction of $4,610,000.00. Following the sale, the insider now owns 136,385 shares in the company, valued at $6,287,348.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 750,263 shares of company stock worth $34,134,363. Company insiders own 1.51% of the company’s stock.

Coca-Cola Company (The) Company Profile

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

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